Under the deal, TCS will deploy the market infrastructure solution of TCS BaNCS for modernising its technology and set up its capability for T2S settlement, TCS said in a statement.

However, the financial details were not disclosed. TCS BaNCS solution will provide Keler with a modern, standards compliant, multi-asset, multi-entity solution that will enable it introduce new products and services, it added.

"We will be ushering our Depository into a unique position in the Central and Eastern European market landscape. This opens up new avenues for us as we enhance our capabilities and offerings and be on time for T2S Settlement as well," Keler CEO Gyorgy Dudas said.

TCS vice president R Vivekanand said Hungary is an important market for the company.

"We are eager to demonstrate our market infrastructure and T2S capability there and to expand our track record in the European CSD space," Vivekanand added.

Past NewsHandpicked worldwide tech news by our editors.

making its experimental homepage visible to all visitors who aren't logged in, the company has confirmed to BuzzFeed. This new landing page shows potential users what the website is all about at a glance. See, it might be your favorite social network, but a lot of people still don't "get" it -- for instance, we'll bet more people in your family use Facebook instead. In its latest earnings report, Twitter revealed that it only has 316 million monthly active users, whereas Facebook almost has 1.5 billion (yes, with a B) by now. The company's likely hoping that displaying celebrities' accounts and tweets based on popular topics can entice curious folks to just give in and sign up for an account...Read More

Open source software has become a critical driver for innovation at leading companies and public-sector organizations around the world, according to a new research report produced by Oxford Economics in partnership with Wipro Limited, a leading global information technology, consulting, and business process services company. The report, ‘The Open Source Era’, also shows that open source software is essential to the use of other cutting-edge technologies and that open source methodologies have spread far beyond software development.Over 75% of respondents said that open source software will power their company’s cloud computing efforts in three years, and more than 60% of respondents believe that open source will power their big data initiatives in three years. Open source solutions are already firmly entrenched in a variety of business functions, and open source is a growing factor in supporting other technology initiatives—a majority of companies noted that open source software supports their mobile frameworks and a substantial number reported that it powers their middleware and content-management systems...Read More

Amazon.in has started a pilot to sell brand-refurbished smartphones from popular brands like Samsung and Xiaomi to begin with. These smartphones are revamped by the brands and are as good as the new phones. The smartphones come with 6 months or higher warranty from the brands and customers can be rest assured of their quality, durability and functionality.Consumer Electronics (CE) continues to occupy one of the Top three slots on Amazon.in with Smartphones emerging as the fastest growing category in CE. Over the last six months, the total CE selection available for purchase to customers has grown significantly -by nearly 150% and the customer demand too has spiraled northwards by similar percentage points in the last one year. Today over 82 smartphone brands including leading international and domestic ones, are available to for purchase to custo...Read More

MUMBAI: Snapdeal is replacing annual employee appraisals with trimester reviews, as one year becomes too long a period to evaluate staff performance in an industry which is on a fast growth path with quickly changing priorities and challenges. The new system means the 5,000-odd employees at the Delhi-based ecommerce company will go through performance appraisals and goal-setting every four months, in line with Snapdeal's own way of fixing its business targets."We follow a trimester-based approach to business planning and it is almost imperative for us to align our people to that," said Saurabh Nigam, vice president, human resources. The performance assessment for the first trimester, that is April-July, will be carried out by mid-August. The new system is based also on employee feedback. It is aimed at frequent engagement with staff and retention of high-potential employees in a market where managing expectation of a young staff is key to keep under check.At Snapdeal, the average age of employees is 26. "The pace at which the ecommerce industry is growing, a year is too long a time-frame to review performance and set goals," said D Rajiv Krishnan, partner, advisory services and leader, people and organisation, at consultancy firm EY. "They have to do it rapidly, accurately and frequently." Founders Kunal Bahl and Rohit Bansal, along with the top management team at Snapdeal, have been the architects and sponsors of the new more fluid and performance mapping and rating.At the end of every trimester, there will be monetary and non-monetary rewards for employees based on the assessment, while the main salary hikes will continue to be at the end of the fiscal year. Snapdeal follows an April-March financial year. Global major Amazon follows an annual appraisal system, while local rivals Flipkart and Jabong have a bi-annual format...Read More

NEW DELHI: Gearing up for the launch of its low-cost 4G services, RIL's telecom arm Reliance Jio Infocomm plans to further raise Rs 1,000 crore through Non-Convertible Debentures to fund its business expansion. "...pursuant to the approval of the Board of Directors and Shareholders, the Company proposes to issue Secured Redeemable Non-Convertible Debentures aggregating up to Rs 1,000 crore, on private placement basis," Reliance Jio Infocomm (RJIL) said in a regulatory statement today.On Thursday, the company had made an announcement to raise Rs 3,500 crore through debentures. With the latest announcement, the cumulative debt raised by company this fiscal has reached around Rs 9,000 crore...Read More

That's the amount Microsoft wrote off on Nokia's phone unit, which it bought a little over a year ago for what it said was $9.5 billion. Considering that the deal included $1.5 billion in cash, the write-off means Microsoft now values a business that once controlled 41 percent of the global handset market at just a small fraction of the purchase price. Thanks in large part to the huge accounting charge, Microsoft reported its largest quarterly loss ever last week ($3.2 billion). It was only the third loss in its history as a public company...Read More

MUMBAI: Integrated IT Company, Dell India, announced the launch of its 600th Dell Exclusive Store (DES), inaugurated by Phil Bryant, Vice President - Consumer and Small Business Sales, Dell.With major focus on India, the company plans to open 825 stores by the end of 2015.According to the statement, 'Dell's aim is to strengthen customer experience through one on one brand engagement and build greater awareness around PC adoption'. Its plans include to improve sales in Tier 1 - Tier 5 cities and towns.The statement adds that Dell has initiated a new GTM strategy, which combines attractive pricing, greater variety of products and a rapid, on-time retail expansion plan...Read More

Samsung has a history of making strange stuff. A smartphone with two sloping sides? What? Why? Either way, you have to appreciate, to a certain degree, Samsung's "let's try it" approach when it comes to some of these ideas. And now a new smartwatch patent shows Sammy's got even more weird stuff to show us. Technology is filled with all kinds of rumors and speculation - real and fabricated. BitStream collects all those whispers into one place to deliver your morning buzz. This patent, spotted by Patently Mobile, is a movable watchface that would be able to track your face's position and adjust the screen accordingly so you have perfect view at all times. Here's how Patently Mobile explains how it would all work...Read More

Samsung has posted another set of disappointing quarterly earnings, with the launch of its new flagship smartphone the Galaxy S6 failing to bolster its business. The South Korean company released its earnings report for Q2 on Wednesday. Profits dropped 8 per cent year-on-year - its fifth consecutive decline. Sales, meanwhile, dropped from 52.35 trillion won in Q2 2014 to 48.54 trillion won today. Samsung concedes that the impact of the launch of the S6 "was quite marginal due to low smartphone shipments and an increase in marketing expenses for new product launches...Read More

BENGALURU: Infosys co-founder and former CEO SD Shibulal is joining the board of The Tamara, the hospitality venture set up by his daughter Shruti, as its chairman at a time when the company is planning at least one fresh acquisition in the German speaking region of Western Europe.Since he retired from Infosys last year, Shibulal has been making investments through his family office Innovations Investment Management, most notably in real estate and hospitality sectors."He (Shibulal) plans to use his years of experience on a professionally run board to bring the foremost standards of corporate governance to The Tamara," said Senthil Kumar N, director and chief executive of The Tamara.The Tamara, which operates under the umbrella of Shibulal's family office, also helps manage properties owned by the Shibulal family across the world.Real estate makes up over half the portfolio of Shibulal's family office, which has several resorts and projects in India. The company's flagship property and brand is the Tamara Coorg - a pet project of Shruti Shibulal, who is currently spearheading the venture's Thiruvananthapuram project as well as the acquisition being pursued in Europe.Shruti, who holds an MBA degree from Columbia Business School and started her career with Merrill Lynch, has also been actively building the family's real estate portfolio. She also runs several finedining restaurants, including Caperberry and Fava in Bengaluru's upmarket UB City mall."Each one of our platforms (such as The Tamara) has a professional management and governance structure in place from the beginning. They develop their own medium and long-term plans based on various factors. For example, our decision to consider acquiring a hotel property in the German speaking part of Western Europe is part of our long-term strategy," said Kumar, an IIM-Bangalore and BITS-Pilani graduate who joined the Shibulal family office in 2005.The company has started construction for its upcoming projects in Thiruvananthapuram and Kodai projects. It has also begun operating two new properties - Lilac in Bengaluru and Palma Laguna on the Kerala backwaters, Kumar said.Shibulal's family office currently manages the entire wealth of the family including any new funds added through dividends and share sales, and also helps build the philanthropic and business platforms which the family is interested in, Kumar said.Since his retirement, Shibulal has also become an active investor in the startup ecosystem and even set up a venture capital and accelerator program called Axilor under the purview of his family office, roping in fellow Infosys co-founder S Gopalakrishnan as an investor.ET had reported last year that Shibulal and his family own several hundreds of apartments and properties across the world. Shibulal and his family currently have about 1.97% of shareholding in Infosys, worth nearly $1 billion (about Rs 6,400 crore)...Read More

MUMBAI: In an interview in for their in-house magazine, Tata Review, Ravi Viswanathan , president for growth markets for TCSBSE 1.17 % said that they were looking at 'feasibility of expanding into other parts of Africa'. TCS has been operating in the Middle East and Africa for the last 30 years. The IT firm has 11 offices and one delivery centre, some 3,800 employees from 28 nationalities working on various assignments for a cross-section of customers. In the FY 2014, revenues from the Middle East and Africa accounted for 2.1 per cent of TCS's overall revenues.The company also has a 450 strong, all women workforce in Riyadh,Saudi Arabia and plans to 'leverage the on it to expand operations in this space for other customers in the Middle East, said Viswanathan...Read More

NEW DELHI: Business analytics software market in India is forecast to grow at 9.6 per cent year-on-year through 2019, reaching USD 583 million, as compared to 6.8 per cent across Asia-Pacific region, a report said today.According to the report by IT firm Tableau and research company IDC, organisations are addressing pain points in areas like processes, risk management, optimisation of resources and customer management using next generation analytics software."This helps them in outperforming their peers while simultaneous reducing the data review time significantly," IDC Asia Pacific Associate Vice President (Big Data, Analytics and Software) Craig Stires told reporters here.Spend on end-user tools (part of the business analytics software market), including visualisation is forecast to grow in India at 10 per cent y-o-y through 2019, reaching USD 121 million, compared to 7.2 per cent across Asia-Pacific.In India, the business processes that have the highest utilisation of business intelligence (BI)/analytics are IT, risk management, customer service, and inventory, the report said."Of the countries studied in Asia-Pacific, Indian users are the most likely to feel their analytics needs are met. Users here indicated higher frequency of usage of analytics tools, with 60 per cent increase in daily and weekly usage over other countries studied," he said.This is very important as daily use of BI/analytics results more frequently in over 50 per cent improvement of business outcomes, Stires said."Instead of confining access to critic al data to an exclusive group of data scientists, we're seeing that self-service data analytics is now on the rise with more organisations embracing a culture of data-driven decision making," Tableau Software Country Manager India Deepak Ghodke said...Read More

PALO ALTO: Microsoft says its' new Windows 10 operating system is now running on more than 14 million computers, two days after the software was released as a free download.That's a far cry from the company's goal of getting Windows 10 onto a billion devices within three years. Microsoft says it's releasing the software in waves to make sure downloads go smoothly...Read More

Snapchat is finally making some real money, with a lot more coming in 2016. It’s also looking for someone to manage all that cash.Snapchat is targeting around $50 million in revenue this year, according to multiple sources familiar with the company — a nice chunk of change considering it launched its first revenue product less than a year ago. It also looks as though the company is gunning for a share of the political campaign coffers that are still filling up, and expects to bring in at least $200 million in revenue next year, these sources say. Twitter, for comparison, brought in $300 million in revenue back in 2012, a year before its IPO...Read More

Karthik A Rao, a graduate in artificial intelligence from the Indian Institute of Science, had always been fascinated by virtual reality. He toyed with virtual reality (VR) as a hobby and developed in three months a headset that projects 2D pictures and movies in 'pseudo 3D' mode. In March, he gave a demo of his VR prototype at an Internet-of-things lab in the city.Rao's Oculus Rift-like headset is one of the earliest such virtual reality devices developed in Bengaluru, which is now latching on to a global trend. Virtual reality became a buzzword globally last year when Facebook acquired California-based Oculus VR for about $2 billion. Bengaluru engineers are taking baby steps into developing virtual and augmented reality devices, seen more as cool technology now rather than solutions to specific problems. For starters, augmented reality enables superimposing digital objects over the physical world through wearable devices while virtual reality creates an immersive as well as alternative reality such as in games...Read More

BENGALURU: Uber Technologies Inc will invest $1 billion in India in the next nine months as the online ride hailing company is bullish on the Indian market.Uber said it would use the additional investment to improve operations, expand into newer cities, and develop new products and payment solutions."Uber has grown exponentially in India, a global priority market for us, which has also quickly become the largest market geographically for Uber outside the US," Amit Jain, president of Uber India said in a statement.The news of Uber's investment in India was first reported by the Financial Times, which said it was the first time the company had set such a target for India.Earlier this month, a Delhi court revoked a government ban on Uber, clearing the way for the company to operate in the capital city and reapply for a license.India asked unregistered web-based taxi services to halt operations in December after a driver contracted with Uber was accused of rape. Uber applied for licenses in New Delhi but continued its operations while approvals were pending.Uber said India and China are its priority markets. It had said last month that it would invest more than $1 billion in China this year as it looks to rev up growth in the world's second largest economy...Read More

THIRUVANANTHAPURAM: Laying of 4G cables in the city has so far resulted in utility damages worth Rs 1.5 crore, as per the preliminary assessment report submitted to the district collector by various departments. In the wake of the huge loss being reported, collector Biju Prabhakar has issued a circular to all departments, including the civic body, to assess the damage caused to utility lines following the laying of 4G cables.Kerala water authority (KWA) alone has reported damages worth Rs 15 lakh, while other departments like BSNL, Kerala road fund board (KRFB) and PWD have been directed to pinpoint specific cases of loss. Reliance Jio Infocom had earlier drawn flak from various departments after it failed to properly restore the roads it had dug up for the work.The city corporation, KRFB and PWD had pulled up the company and directed it to restore the roads as per previous standards. The firm then carried out bituminous overlay on the stretches instead of using quickfix polymer...Read More

MUMBAI: India's Reliance Communications has revived a plan to sell a 51% stake in its tower unit, attracting early interest from US private equity firms as well as domestic and American industry players, two sources with direct knowledge of the matter said.Reliance Communications, India's fourth-biggest mobile phone carrier and headed by billionaire Anil Ambani, is looking at a valuation of about $4 billion for the unit, which has about 45,000 mobile phone masts, the sources said.The private equity firms showing interest included Blackstone, The Carlyle Group and Providence Equity Partners, while from the industry side Bharti Infratel and American Tower Corp were other potential suitors, according to the sources, who requested anonymity as the information was not public...Read More

BENGALURU: Consulting and outsourcing company Accenture has confirmed the resignation of chairman and managing director Avinash Vashistha and said it will soon announce his replacement.ET had reported that Vashistha had put in his papers and would serve his term till August end. "We can confirm to you that Avinash Vashistha has decided to resign from Accenture to pursue entrepreneurial and corporate leadership opportunities leveraging new technologies, effective August 21, 2015," a spokesperson for Accenture said in an email reply to ET's query on Thursday.In an email to its India employees a day earlier, Accenture had announced Vashistha's exit and said the company is working on a succession plan to identify and name new leadership. Vashistha is a veteran of India's outsourcing industry who founded an outsourcing advisory firm called neoIT in 1999 before joining Accenture as its India MD in January 2011.At neoIT, Vashistha boasted of a client list that included Siemens, JP Morgan Chase, ABN Amro, Home Depot and Stanford University. Vashistha's exit from Accenture comes at a time when the company is looking to gain market share in India from international rivals such as IBM, which is among the most dominant technology vendors in the country and boasts of marquee telecom clients such as Bharti Airtel and Vodafone.When Vashistha joined Accentur e, the company was widely seen as a late entrant in India's around $20-billion information technology market...Read More

NEW DELHI: Samsung has listed Galaxy S5 Neo (SM-G903F) smartphone on Dutch e-commerce website Belsimpel.Priced at Euro 429, the smartphone will start shipping by August end.It features a 5.1-inch Super Amoled full-HD (1080x1920 pixels) resolution display and runs on Android 5.1.1 Lollipop.Powered by octa-core Exynos 7580 processor and 2GB RAM, the smartphone has 16GB internal storage and can hold microSD cards of up to 128GB...Read More

OnePlus 2 64GB model is all set to enter the Indian market on August 11 and is likely to be on the wish list of anyone looking for a flagship smartphone at mid-range price.This segment already has one contender, Asus ZenFone 2, which is the world’s first smartphone with 4GB RAM. But now so does OnePlus 2. Similarly, while ZenFone 2 supports fast-charging, OnePlus 2 boasts of fingerprint sensor.So, the fight is pretty tough between the two smartphones. Here we take a look at all the key aspects to help you choose between OnePlus 2 and Asus ZenFone 2 and make the inal decision...Read More

Apple Inc will launch the next generation of its Apple TV set-top box in September, with a new remote and support for Siri voice control, online publisher BuzzFeed has reported. The new Apple TV will have a slimmer chassis, a "drastically improved" remote with touch-pad input, increased on-board storage and an operating system that will support Siri, BuzzFeed said, citing sources familiar with the matter. The device will be launched with its own App Store and a software development kit for app developers, the website said. Apple did not immediately respond to phone calls seeking comment. The Apple TV has not been refreshed since 2013. The iPhone maker was expected to unveil a new version in June at its annual Word Wide Developers Conference, but it launched the Apple Music streaming service...Read More

Flipkart, whose valuation increased to $15 billion (Rs 96,000) after raising $700 million (Rs 4500 crore) during their 10th round of funding, is little concerned about the base on which their digital empire is being constructed: their employees.As per Mumbai Mirror, around 400 delivery staff at Mumbai, who work for Flipkart and Myntra have revolted against the management, and stopped working. Due to this strike, atleast 5000 packages are left undelivered across various sections of the city.This strike has been on since Monday...Read More

With the central government’s talks to create a Digital India, the states (atleast a few of them) are not lagging far behind to provide hassle free Internet connection in every house. The advent of Internet has brought in changes of many forms in the country, and the spread of the same would only create space for growth.The Telangana government has set out with a Digital Telangana aim- to provide Internet connectivity to all households in the state under its initiative, IT Secretary Jayesh Ranjan said. “We are trying to ensure providing Internet to each and every household in the state,” he told a FICCI-organised seminar on ‘Integrated Digital Solutions for a Smarter Telangana’. “We are making this ambitious target of providing Internet to every person in different ways through broadband connectivity, 4G, Wi-Fi and e-panchayats. We will ensure that ‘Internet For All’ does not mere just remain a slogan,” he added...Read More

Mozilla CEO Chris Beard has blasted Microsoft in a pair of posts to the organization's blog, arguing that Windows 10's default browser settings are a "dramatic step backwards" for respecting user choice.When people update their devices to Microsoft's new operating system, their default browsers are automatically changed to Microsoft Edge, the successor to Internet Explorer that's included with Windows 10. People who had a different default browser then have to go into Windows 10's settings menu and change the default from there...Read More

Artificial intelligence (AI) has been a staple of science fiction and cinema for decades now, with one of the most famous early examples being Stanley Kubrick's film "2001: A Space Odyssey." It represented the potential - and the possible malice - of AI.Of course, we can't talk about AI without pointing out that the theme of malice was carried on by such franchises as the Terminator series, in which an AI mechanism called Skynet decided mankind needed elimination and proceeded to attempt the execution thereof. As is Hollywood's wont, this is an extreme example, but there's no doubt that alongside the benefits AI is also seen as a possible threat to humans by taking away their thinking skills, decision-making capabilities and occupations (or very lives.)...Read More

Each brand-specific button is $5 as long as you’re a Prime member, and there are 18 to choose from.Ideal for any young parent/college-aged human/or the obsessively cleanly.In order to set the Amazon Dash Button up, consumers can use the Amazon app on their smartphone to connect to their home Wi-Fi and select the product they want to re-order with Dash Button. But man, running out of TP also sucks a bunch.The Dash Button is an expansion of the Dash remote that Amazon launched last year in a limited beta...Read More